Intuit Inc, the global technology platform that makes Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp, announced the availability of several new and improved e-commerce innovations for QuickBooks Online that help small businesses effortlessly manage their inventory across sales channels from one, central platform.
Product-based businesses often track inventory using inefficient methods, including spreadsheets and pen and paper. QuickBooks’ new e-commerce capabilities are designed to help these businesses manage orders and inventory with more confidence and less work, which is critical especially during the busy holiday season. In fact, customers report they plan to spend 35% more than they did compared to last holiday season, with 50% of this year’s holiday budget expected to be spent at small businesses.
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By automating inventory accounting processes and connecting sales channels, QuickBooks Online now provides a single source of truth for product, stock, and bookkeeping information, giving business owners the visibility they need to make informed business decisions. With these features, customers can:
- Sync across sales channels: Automatically sync products, orders, inventory, and payout data with no manual entry work and automate invoicing when sales orders are placed across channels, including Shopify, Amazon, and eBay to QuickBooks Online.
- Spot opportunities for growth: By syncing commerce data to QuickBooks Online, businesses can learn how sales are trending across channels to easily identify top-performing products.
- Maintain accurate inventory quantity: Manage stock adjustments individually or in bulk to help ensure inventory quantity is accurate.
- Seamlessly replenish low stock: Get notified when inventory is low and effortlessly create purchase orders to replenish stock with a bird’s eye view of products and variants.
- Know where money is going: Track costs of goods and business expenses and leverage accurate reports to help understand profitability.
“Small businesses that sell products have many sales channels to consider – ranging from multiple online platforms to in-person outlets — and while this can lead to greater revenue opportunities, it can also lead to more headaches when it comes to order fulfillment and inventory management,” said Joe Black, Director of Product Management, Commerce, Intuit QuickBooks. “By automating key functions throughout the commerce process and seamlessly integrating commerce data into the books to streamline accounting, we are arming product-based businesses with the valuable insights they need to help succeed in this year’s holiday season and beyond.”
The new e-commerce capabilities are currently being rolled out to new QuickBooks Online customers and are expected to become available to existing customers soon.
SOURCE: Businesswire